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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for AB&Company Co's Beneish M-Score or its related term are showing as below:
TSE:9251'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.93 Med: -2.55 Max: -1.77
Current: -2.67
During the past 8 years, the highest Beneish M-Score of AB&Company Co was -1.77. The lowest was -2.93. And the median was -2.55.
AB&Company Co Beneish M-Score Related Terms
AB&Company Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for AB&Company Co's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TSE:9251 vs ROL, SCI, FTDR: Beneish M-Score Comparison
For the Personal Services subindustry, AB&Company Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
AB&Company Co Beneish M-Score vs Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, AB&Company Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where AB&Company Co's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of AB&Company Co for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.106
+
0.528 * 0.9999
+
0.404 * 1.0088
+
0.892 * 1.0657
+
0.115 * 1.0152
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0136
+
4.679 * -0.073346
-
0.327 * 1.0195
=
-2.67
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(2205 / (2205 + 6491))
/
(2330 / (2330 + 6999))
=
0.253565
/
0.249759
=
1.0152
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(893 - 0
-
2879)
/
27077
=
-0.073346
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
AB&Company Co has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
AB&Company Co (TSE:9251) has a Beneish M-Score of -2.67 as of Jul. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AB&Company Co and its competitors. According to the industry distribution chart, AB&Company Co ranks #49 out of 89 companies in the Personal Services industry, placing it in the top 55.1%.
Is AB&Company Co's Beneish M-Score too high?
AB&Company Co's current Beneish M-Score is -2.67. Based on the distribution chart, AB&Company Co ranks #49 out of 89 companies in the Personal Services industry, which is below the industry midpoint. Overall, AB&Company Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does AB&Company Co's Beneish M-Score compare to ROL and SCI?
According to the Personal Services industry distribution chart, AB&Company Co ranks #49 out of 89 companies for Beneish M-Score. This places AB&Company Co in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Personal Services company?
A good Beneish M-Score depends on the Personal Services industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AB&Company Co and its competitors. AB&Company Co's current Beneish M-Score is -2.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AB&Company Co stock overvalued right now?
Based on GuruFocus' analysis, AB&Company Co (TSE:9251) is currently considered Fairly Valued. The stock's GF Value™ is 円1,264.31, compared to a current price of 円1,332.00 — trading 5.4% above its estimated fair value. The current Beneish M-Score is -2.67. AB&Company Co's overall GF Score™ is 77/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For AB&Company Co (TSE:9251), the current Beneish M-Score is -2.67 as of Jul. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is AB&Company Co (TSE:9251) Overvalued in 2026?
Based on GuruFocus' analysis, AB&Company Co stock appears to be overvalued.
The current stock price of 円1,332.00 is trading 5.4% above its estimated GF Value™ of 円1,264.31.
GuruFocus considers AB&Company Co to be Fairly Valued.
Key valuation signals for TSE:9251:
Beneish M-Score: -2.67
GF Value™: 円1,264.31 vs. price of 円1,332.00 (5.4% above fair value)
No single metric tells the full story. See the TSE:9251 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AB&Company Co Ltd operates a chain of beauty salons in Japan through brands like Agu., Agu. Spa & Beauty, BLEACHi, benji, First, EleRe, and others. Along with its subsidiaries, the company operates in the following reportable segments: directly managed beauty salons management business, interior design business, and the franchise business. The majority of its revenue is generated from the directly managed beauty salon operation business, which provides beauty services. The franchise business supports the operation of franchise stores, and the interior design business mainly designs, plans, and constructs stores, mainly beauty salons.
77GF Score
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